On January 1, 2017, Carlt created a $300,000 trust that provided his mother with a lifetime income interest starting on January 1, 2017, with the remainder interest to go to his son. Carlt expressly retained the power to revoke both the income interest and the remainder interest at any time. Who will be taxed on the trust's 2017 income?
A. Carlt's mother.
B. Carlt's son.
C. Carlt.
D. The trust.
Answer: C. Carlt.
Business
You might also like to view...
You are excited. You have a course of action for the problem. You are just waiting for your boss to give the okay. Your boss practices the ask what to do initiative
Indicate whether the statement is true or false.
Business
Which of the following statements about the Internet's impact on marketing is not true?
A) The Internet has broadened the scope of marketing communications. B) The Internet has decreased the impact of brands. C) The Internet has increased the richness of marketing communications. D) The Internet has expanded the information intensity of the marketplace.
Business